Bitcoin cryptocurrency recently reversed down from the major resistance zone located between the long-term resistance level 72650.00
Bitcoin cryptocurrency is likely to continue falling toward the pivotal support level 65000.00, which reversed the price in early October, following a recent reversal from a major resistance zone.
Bitcoin cryptocurrency recently reversed down from a major resistance zone on the weekly chart, which is located between the long-term resistance level 72650.00 (which stopped the previous waves (5) and 2 in early 2025) and the upper weekly Bollinger Band. This downward reversal created a weekly Japanese candlesticks reversal pattern Shooting Star – which stopped the previous intermediate impulse wave (3).
Given the strength of the resistance level 72650.00 and the overbought weekly Stochastic indicator, Bitcoin cryptocurrency is likely to continue falling toward the pivotal support level 65000.00, which reversed the price in early October.
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